39353
British Online Retailer on Track to Reach Targets
Economy, Sci & Tech

British Online Retailer on Track to Reach Targets

Leading British online fashion retailer ASOS (As Seen on Screen) met forecasts with an 18% rise in first-half profit and said it was on track to achieve its sales and margin guidance for the full year.
Established in 2000 for fashion-conscious twentysomethings, ASOS was an early e-commerce success story, but is seeing growing competition from the likes of Rocket Internet's Zalando and British rival Boohoo, as well as from traditional store-based chains improving their online offerings.
ASOS said on Tuesday it made a pretax profit of 21.2 million pounds ($30.2 million) in the six months to Feb. 29, in line with analysts' average forecast and up from 18 million pounds in the same period last year.
Retail sales rose 24% on a constant currency basis to 648.6 million pounds, as the firm grew its active customer base by 17% to 10.9 million. UK sales rose 25%, while international sales were up 24% overall.
ASOS said investment in technology and logistics was bearing fruit, delivering 21% growth in visits to its sites and growth in average order frequency, basket value and conversion.
"I'm pleased to confirm that we are on track to achieve our previously stated sales and margin guidance for the full year," said Chief Executive Nick Beighton who took over last September from founder Nick Robertson.
In October, ASOS forecast sales growth for 2015-16 of about 20% and a maintained operating margin of 4%.
 

 

Short URL : http://goo.gl/eT2jZr
  1. http://goo.gl/G4VBxY
  • http://goo.gl/tLpDTT
  • http://goo.gl/nz33zP
  • http://goo.gl/SUZmMz
  • http://goo.gl/zbnegP

You can also read ...

Telegram Raises $850m From Investors Before Planned ICO
The chat app company Telegram filed documents with the US...
Ban on Contraband Cellphones in Iran Reaches LG
Following the government’s belated policy of curbing cellphone...
Iran-Greece Trade Tops $1.5 Billion
Iran exported more than €1.26 billion worth of goods to Greece...
On Sunday, the rial traded at 46,130 to the dollar, up 1.8%. 
With its foreign exchange package now in full swing, the...
Facebook has to delete all data it has gathered on Belgian citizens.
A Belgian court threatened Facebook (FB.O) on Friday with a...
Intel Hit With  32 Lawsuits
Intel has revealed that the company is facing at least 32...
Iran Decision on FATF Agenda
The Financial Action Task Force–the global anti-money...
Polish Expo  in Tehran
An exhibition of Polish businesses and culture held in Tehran’...

Trending

Googleplus